Huge Losses Incurred, Planners Block €36m Investment InDocklands

Urbanest, student’s housing builder has received a harsh blow from Bord Pleanala. The latter has blocked the plans of the€36m project in Dublin. The successful completion of this project would have marked the company’s entry into the market in Ireland. Urbanest has plans to provide student accommodation. They had chalked out their new scheme, which included building bedrooms for 313 students. Infact, the company had applied for permission to start this project. However, this plan required the demolition of twenty two habitable dwellings, including two buildings, which are located on Windmill Lane in Dublin’s docklands.

Though last year, Dublin City Council approved the plans, but decision was pending due to varied reasons. One of the major reasons was that the proposed scheme would depreciate the value of the properties in the nearby area. It is said that plan for building student housing would lead to the establishment of daunting urban streetscape. This was a major flaw in the plan, and this would cause inconvenience and denigrate the value of other properties in the same area.

Around 330 people reside in Windmill Lane. However, Creighton Street, which is also included in the scheme, has less than 30 residents. Protest has come first from Creighton Street. One individual objected to the plan, stating that his family has been residing in that particular street for more than hundred years.

Local residents are scared of other factors, as well. Some have complained that an influx of students in a residential area would disrupt their normal life. Some have said that students from a number of colleges and universities in the city would cause menacing acts, like blocking TV satellite signals. Also, anti-social behaviour in some students is a major cause of worry among the residents. They believe that anti-social elements may make their life miserable in the locality.

Urbanest is known to provide first class student accommodation. The students can enjoy a superb lifestyle in these accommodations. The urban students are provided with the best rooms, social spaces and study centers. They are also provided with a huge support network, which enable them to meet new people and befriend many people. It would not be wrong to say that students enjoy classy, secure and hassle-free living in the accommodations provided by Urbanest.

Now things do not seem to be in favor of Urbanest. The company is facing a real hitch after the planners have blocked their new project. Urbanest is now left with only one alternative to pursue this project; .that is to go back to the drawing board and revamp their plan. The company has agreed to acquire the NAMA-controlled Dublin site, which is also bounded by Sir John Rogerson’s Quay for accommodation development, subject to permission granted for it.